FACES REALITIES

Dominion, Volume 24, Issue 286, 29 August 1931, Page 7

FACES REALITIES

Premier Lang’s Budget OVER £8,000,000 DOWN Unpaid Overseas Interest MR. BAVIN’S COMPLIMENTS By Telegraph—Press Assn.—Copyright (Ree. August 28, 9.55 p.m.) Sydney, August 28. The Premier and Treasurer, Mr. J. T. Lang, delivered the State Budget to-night. He estimated the deficit on the current year’s financial i . operations to be £8,305,596. This includes the sum of £1,072,722, representing unpaid overseas interest, “which the Government has temporarily suspended.’’ • Mr. Lang announced that reductions hi adjustable, expenditure for 1931-1932 would yield £8,285,000 These would include the 20 per cent, economies In conformity with the. August Premiers’ Conference. . taxation mentioned by Mr. Lang was. an increase in the fam-

ily endowment; tax by 1 per cent., making it 2 per cent There is an overdraft in this fund of £1,443,741. Collections for the unemployment relief for the twelve months totalled £4,377,835. . 1 ' Mr. T. R. Bavin, Leader of the Opposition, complimented the Premier, on facing the realities of the situation and abandoning his attitude of isolation. The only thing remaining for Mr; Lang to do was to tell the country whether he had abandoned : the “Lang Plfin,”. otherwise all his good intentions so far as the future was concerned would be mere 1 humbug. / .' ■ The Budget did not include the Government’s obligations to depositors in the ill-fated Savings Bank. The debate was adjourned.